Seabridge Gold Inc. said March 12 that it will likely prioritize developing the Iron Cap deposit at its KSM project in British Columbia after an updated estimate increased the deposit's gold-copper resources.
Indicated resources at Iron Cap now stand at 423 million tonnes grading 0.41 g/t gold, 0.22% copper, 4.6 g/t silver and 41 parts per million molybdenum, for 5.6 million ounces of gold, 2.05 billion pounds of copper, 62.6 million ounces of silver and 38 million pounds of molybdenum.
Inferred resources totaled 1.90 billion tonnes grading 0.45 g/t of gold, 0.30% copper, 2.6 g/t silver and 30 ppm molybdenum for 27.5 million ounces of gold, 12.56 billion pounds of copper, 158.7 million ounces of silver and 126 million pounds of molybdenum.
The updated study, which used a net smelter royalty cutoff of C$16, incorporated all previous drilling results plus 20,341 meters of diamond core drilling completed in 18 holes in 2018.
Seabridge said the updated estimate achieved the targeted size and grade to move Iron Cap ahead of the Kerr and Sulphurets deposits in the mine plan. Iron Cap is also nearer to infrastructure, making it faster and cheaper to develop, the company added.